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An analysis & review of: MRI (Part 4 of 15) — What Property Management software is everyone using?

by Michael Levy on October 7, 2011

in General, PROPERTY MGMT TIPS

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MRI’s property management software was mentioned the third most often in response to a question posted on one of the property management groups ("Property Management Professionals") on LINKEDIN.  The question someone asked was, "What property management / accounting software is everyone using?".  Hundreds of property managers responded to this question.

Here is an analysis of what was said about MRI’s software based on an analysis of the first 350+ responses:

SUMMARY for MRI Software:
Of those that are currently using MRI or have used it in the past, it was fairly evenly split between those that liked it and those that didn’t.

Of those that liked MRI, most mentioned ease of use as a key advantage for the product.  Of those that did not like the product, they indicated that it was not user friendly and was expensive.  Of the few people that compared MRI with other products, some preferred OneSite, Rent Magic, and Yardi over MRI.  However, some preferred MRI over Timberline.

 

And if you missed it, be sure to read:
What Property Management software is everyone using? (Part 1)
An analysis & review of: YARDI (Part 2)
An analysis & review of: AppFolio (Part 3)
An analysis & review of: OneSite (Part 5)
An analysis & review of: QuickBooks (Part 6)
An analysis & review of: Buildium (Part 7)
An analysis & review of: Rent Manager ( Part 8 )
An analysis & review of: Propertyware (Part 9)
An analysis & review of: Tenant Pro (Part 10)
An analysis & review of: Timberline (Part 11)
An analysis & review of: AMSI (Part 12) 
An analysis & review of: PROMAS, Skyline, Tenant File, Tops, & Property Boss (Part 13)
An analysis & review of: Spectra, JD Edwards, & Home Grown solutions (Part 14)
An analysis & review of: Instant Software Property Plus, Peachtree, Caliber, & Jenark (Part 15)

 

 

 

DETAILED ANALYSIS of MRI Software:

PROS for MRI Software:

GENERAL COMMENTS:

  • I love it!
  • Considered one of the best in the business.
  • Used by most large investment and property management groups.
  • Excellent with the critical provision that the initial transition to the software is implemented correctly and any and all Property Management modules are added.

EASE OF USE:

  • It is fairly simple for the site personnel to use.
  • Not difficult to use and works quite well.

GENERAL FUNCTIONALITY:

  • Using MRI for commercial office and residential properties.
  • On the commercial side we use the recovery and construction module.  Works very well for us.
  • Can roll up to the investor level by fund type.

CONS for MRI Software:

EASE OF USE:

  • I can’t stand it – very unfriendly interface and steep learning curve.
  • It is not very user friendly to navigate.

COST:

  • Rather expensive.
  • MRI can be costly.

CUSTOMER SERVICE & SUPPORT:

  • There are many MRI consultants in the market that can get you up an running faster than using their support.

 

COMPARISONS: MRI Software versus other property management software packages:

Of the few people that compared MRI with other products, some preferred OneSite, Rent Magic, and Yardi over MRI.  However, some preferred MRI over Timberline.

Versus AMSI:
MAJORITY: Inconclusive

  • We recently switched from MRI to AMSI and I feel AMSI is a lot easier to use and much easier to navigate.
  • I’ve worked with MRI and eSite/AMSI. Of the two, eSite/AMSI is the least powerful and most time-consuming.

Versus OneSite:
MAJORITY: Prefer OneSite

  • We use OneSite and some properties use MRI but I feel it is not very user friendly to navigate where once you use OneSite you pretty much get the hang of it.
  • I’ve also experienced MRI, which is okay. However I am a big fan of OneSite, due to it’s ease and ability to be learned by those new to the industry very quickly.

Versus Timberline:
MAJORITY: Prefer MRI

  • Timberline is very date sensitive in the Property Accounting and may cause a spider web of issues.
  • I use MRI in my portfolios. I’ve used Timberline in the past and find it more effective from Development accounting than operating.

Versus Rent Magic:
MAJORITY: Prefer Rent Magic

  • I have worked in MRI, but, for the money (or lack thereof) the best value I came across was Rent Magic. For our business in Ontario, it handled all of the requirements and forms of the province’s rent regulatory legislation as well as all tenancy and building management items and accounting.

Versus Yardi:
MAJORITY: Prefer Yardi

  • We use both Yardi Voyager and Intuit’s MRI. From an accounting perspective, I prefer Yardi Voyager over MRI because it posts accounting transactions real-time, whereas the MRI software requires that each module be closed separately before it can be posted to the general ledger.
  • We use Yardi and some properties use MRI but I feel it is not very user friendly to navigate where once you use Yardi you pretty much get the hang of it.
  • I’ve worked with MRI and Yardi.  Yardi is the standard; if you have Voyager, that’s as good as it gets. MRI has a longer learning curve but works well with Rainmaker/LRO and other yield-management programs.

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